IMO MORSe Seminar: Thomas Zellweger (St Gallen University)
Institute of Management and Organisation
Date: / -
PC04 Blue Building
The Institute of Management and Organization is glad to invite you to the next MORSe seminar given by Thomas Zellweger from St Gallen University on June 12 from 12:00 to 13:30 in PC04 in the Blue Building.
He will be presenting a paper titled: The Performance impact of Retaining Predecessor CEOs as Board Chairs in Family and Nonfamily Firms.
Abstract: We challenge the negative view that predecessor retention—the appointment of outgoing CEOs as board chairs—deteriorates post-succession firm performance. We posit that predecessor retention improves post-succession performance in family firms since predecessors are more likely to act as mentors to their successors, whereas their counterparts in nonfamily firms tend to behave opportunistically. Exploring variance among family firms, we suggest that successor mentoring is most valuable when the predecessor has a heightened ability to mentor and the successor has a pronounced need for mentoring. Probing a matched sample of 305 CEO successions in S&P 1500 firms between 2001 and 2013, our results complement CEO succession research by introducing a CEO mentoring perspective and by differentiating between family and nonfamily firms.